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20130116
20130116
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, as you see. we've got them moving higher today. david: the battle over the debt ceiling and paying the bills that d.c. is racking up continues. representative jerry nadler, happens to be my representative, he is looking to stop future fights. he has introduced legislation to end the debt ceiling debate by getting rid of the debt ceiling all together. but would that give too much power to the president? that is the argument. that is the debate. we'll take you and jerry nadler there coming up. liz: germany's central bank pulling some of its gold out of new york and paris. we have somebody who says you need to look at this because it could turn out to be good news for gold prices. he also says we could see 1900 an ounce by the end of the year. find out why and how you could play this one. david: we all love gold. first before we get to all those stories we'll tell you what drove the markets with today's data download. it is a mixed day on wall street. dow settling lower while the nasdaq and the s&p posting gains the dow snapping a five-day winning streak. technology and energy were to
make sense of investing. adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceiling from years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and now it is a source of a contentious de
ceiling, which is that not everybody understand what the debt ceiling is about. the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you c
miles on every purchase, every day! what's in your wallet? a showdown over the debt ceiling with republicans using the threat of default to try and leverage spending cuts from the white house. representative peter welch is democrat from vermont and he has been calling for the president to envoc the 14th amendment to circumvent congress and protect the economy. congressman, welcome. good to have you with us. before we turn to the debt ceiling, i would like your reactions to the president's proposals to curb gun violence and whether you think those legislative proposals that he made have a chance of getting through either house of congress or both. >> i do. i mean, all of us are just astonished and appalled at what happened in newtown and the idea that a 6-year-old child would have 11 high capacity bullet designed by the military for combat pumped into that little child is really changing the discussion here. so i think the focus on practical things like high capacity magazines, like background checks that work, like trying to come up with appropriate assault weapon ban, these
, trace. and a push to completely eliminate the debt ceiling once and for all effectively eliminating any legal checks on federal spending. up next, stu varney, what this could mean and why a whole new class of taxes is also now getting some buzz. and new controversy over reports that federal agents waited to arrest an illegal immigrant and a sex offender who worked for this powerful democratic senator, senator menendez, you saw in that picture there. what, what really went on? why was this done? an early morning rescue puts a whole new meaning on another brick in the wall. as firefighters-- did you watch this on america's news room with bill and martha? firefighters worked hours to free a woman who got stuck in a tight spot, how it happened. ♪ ♪ caught between a rock and a hard place ♪ bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. before you begin an aspirin regimen. music: "make someone happy" music: "make someone happy"
, is unforgivable is the way to make these policies. second, you have the debt ceiling. it is a marketing tool the country hostage. we know there's going to be a fighter for the debt ceiling. in the past that feeling with a speed bump that reminded folks who are borrowing too much and needed to make changes. it could be a useful reminder. not because of sars are people really worry about the fate of the u.s. government and its economic damage, which is what we saw last time. the third piece, the fact government spending is going to expire in the triple witching hour of these issues is if this will close and is that going to force action of the hardest pieces still remaining for the fact that they still for all intents and purposes, it's good we didn't go to the fiscal cliff, good release revenue, but we basically did what we always do, which is punted the hard choices and try to declare bipartisan victory. it wasn't there. the question as to make make these next moments were set to getting us to really take on policies. and this is part of your question that will do it the necessary savings th
because the debt ceiling concern and talks, it's been pretty much nonexistent on the industrial -- >> the markets at fresh five-year highs. >> yeah. it's all because we had the fiscal cliff. and it was so volatile coming into it. we saw some massive swings and massive breakdowns coming into it. it seemed like the market was all over the place. with the debt ceiling, everyone thinks they'll kick the can, raise the debt ceiling up, or get resolved within -- >> that mean the market's at risk? it would seem yes, right? >> see, if you -- my opinion of what will happen is if there's any small breakdown in it, you know, if there's threats that they may downgrade the s&p, whatever, we'll see a breakdown in s&p down to like 14.50, 14.40. but there are so many people waiting on the sidelines, so much cash. and people looking at u.s. equities over the safety play. they'll start coming in, they'll buy. it i think it's going to be a good year for the s&p this year. >> what does earnings season do? hearing from jpmorgan and goldman sachs, the financials have been a driver of major averages mo
hard fall on both gun control and the debt ceiling. the president simply will not offer any compromise on federal spending that might get a debt deal done. on guns as we just heard, is he threatening executive orders. so i think the president simply wants to damage the republicans rather than solve complicated problems, at least at this juncture. joining us from washington with his take fox news political analyst charles krauthammer. i see it as a chess game. rather than both parties working together to get some gun legislation that might help folks control criminals in that area and rather than getting the debt ceiling done with some, you know, meaningful cuts in spending, the president says, you know, i'm not even going to bother. i want to alienate the republicans so that people will be angry with them. am i wrong? he has been doing that since elections day, i wrote a column ever since september pointing out entire strategy for the fiscal cliff was to split the republicans. it had nothing to do his offers had nothing to do with solving the fiscal issue or solving the debt. he showed
' retirement funds to avoid hitting the debt ceiling. the treasury previously estimated the move would give it around $156 billion in additional borrowing capacity. it says retirees will still receive their benefits. in a letter to the house speaker john boehner, the treasury secretary says this step has been taken before during previous debt limit impasses. several conservative republicans are set to introduce legislation to direct treasury to prioritize debt payments if congress doesn't raise the debt ceiling. >>> and president obama will unveil his gun control plan today at 11:45 eastern. he's expected to call on congress to ban military-style assault weapons and the type of high-capacity ammunition used in last month's school shooting in newtown, connecticut. the package will also include efforts to stop school bullying and invest available mental health services. may include several steps the president can take right away without congressional approval. >>> the house of representatives has passed more than $50 billion in aid for hurricane sandy victims. this more than ten weeks after t
to me, hey, jim, what is cnbc going to do after they solve the debt ceiling? you panicked on the election. >> we'll try something. >> the country, the republic is in repeated crisis. you have a president saying -- he said, okay, what happens if the president doesn't have a crisis after the debt ceiling? what are you going to do if he says, listen, we're just going to go back to being like washington? that was interesting. >> we can talk about fundamentals. the economy will be picking up. housing likely to get in on it. >> maybe we're actually breaking -- maybe the valuations aren't -- >> based on what? >> come on, under wells fargo? >> michael dell, and suddenly, mr. skeptic -- >> overheated debt market, that's always a good sign for an economy. that's always a sign that things are getting a lot better. >> it's been getting overheated since 1979. >> big lbos. that worked out real well. no, i'm just -- there's housing, sales of pickups. sales of cars in europe for 2012, not so good. we'll talk about that. >> germany, the bmw sales, volkswagen sales. one of my cousins in mex
. as the president subsequently yesterday, the debt ceiling essentially must not be used as a weapon. it essentially takes on an is the basic full faith and credit of the united states of america. the president has made so clear what would be at stake if that were to happen. i just believe that it is so critical that that not occurred. you know, i have been through these battles for many decades. i don't remember anyone essentially saying we should go over the cliff. the consequences would be, i think, shamanic and potentially cataclysmic. for the republicans that say let's do it, i think i would be a mistake with foreseeable consequences. the federal reserve has said the responsible physician is we should not forget. >> the president says he's not going to talk about the debt ceiling, speaker boehner said it can be done unless we cut spending at the same time. what are the odds of avoiding going over the fiscal cliff given where both parties are. >> they are going with the american economy and the global economy. closer you get to the fiscal cliff, i think the less likely it is that the u.s. will b
's in south carolina. and this headline in the aiken standard -- then, on the debt ceiling debate, the ways and means chairman has announced there will be hearings on this on january 22. they will be taking a look and that. also in the newspapers this morning, here's the "washington times with this headline -- " he will be our guest coming up, the top democrat on the ways and means committee in the house. later, we will talk to the chairman of the house judiciary committee, representative goodlatte, on the washington journal this morning as well. two members of congress. continuing with the debt ceiling, the financial times this morning reports -- on the nomination of chuck hagel, a former nebraskahe ka senator.m he won the support of two key members. his opposition so far has come almost entirely from fellow republicans. those are some of the headlines this morning in the papers. back to our question, do you support executive action on gun- control measures? now to an independent caller. caller: hi. i just wonder if there are any human beings left. the underlying issue has very little to d
, what if these guys mess it up again. the debt ceiling fight they seem to be bigger than the ones we have had recently. >> it is not so much if they mess it up, it is how badly will they mess it up. we know that it is coming. we went into that, first of all, with other things happening that are not happening now. europe was much more of a mess and much more and write mode. we are just starting to get a sense of this function in washington. we are now unfortunately, immune to it. something we had not experienced, we know in hindsight, that did not happen. i think we learned some lessons. do you have a prediction at what may happen this time around. it was a big surprise that everyone said interest rates would skyrocket. and that, money, as a safe haven came in here to the united states. is there any guarantee that that will happen again? >> there is not a guarantee. the other thing that happened was not that foreign money was willing to buy treasuries, one of the concerned was if you lost a aaa rating, many big foundations, endowments tower and dated to only hold aaa securities would
run out of money to pay its bills by the end of february if that debt ceiling isn't raised. congress is preparing to debate it, but it could be a politically charged battle. >>> all right. a big political comeback getting underway today. you might remember former south carolina governor mark sanford. well, back in 2009 he admitted to having an affair with a woman from argentina, who is now his fiance. he announced he's running for his old congressional seat. >>> all right. and you don't hear a story like this often. it comes to us from the suburbs of stockholm, sweden. that's where a cleaning lady stole an empty commuter train and drove it into an apartment building. >> she was at the controls for about a mile. then the train derailed before hitting the building. the woman was seriously injured. she was the only person hurt. i guess she was the only one on the train. >> not good. what were you thinking? >> i wonder why she did that. >> i don't know. >> we need more information on that one. >> yeah, we do. >>> let's talk about our wednesday weather. heavy rain from the gulf coast into
Search Results 0 to 13 of about 14